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ECC approves funds to set up disaster management mechanism

ISLAMABAD: Economic Coordination Committee (ECC) of the federal cabinet on Wednesday approved the allocation of funds equivalent to 25 million dollars for the National Disaster Risk Management Fund (NDRMF). The meeting chaired by Finance Minister Ishaq Dar considered the proposal by Economic Affairs Division (EAD) which has established the fund to set up a government-owned sustainable mechanism to support disaster risk financing instruments that can enhance resilience to natural calamities. The Asian Development Bank…